The impact of the economic crisis on families

Families are being hard hit by the crisis through rising unemployment, falling purchasing power, increasing debt, poverty and social exclusion… but they are also among the essential acting stakeholders towards necessary changes.

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The current economic crisis is already having long term implications on the well-being of families in the European Union. Due to the additional impact of austerity measures, millions of families are challenged in ways that will cause major negative effects to their lives, of their ageing relatives and of their children, and indeed, the future of Europe’s younger generations is at stake. Unfortunately, poverty and social exclusion of families will continue to rise. All Member States are concerned, but some are harder hit than others.

It is clearly visible that the effects of the longstanding economic crisis and budgetary cuts are especially felt by families with low income. The most vulnerable families such as single-parent families, large families, families with young children and/or dependent relatives and migrant families are most likely to meet difficulties in the fulfilment of their role as educators and carers.

The support of targeted economic growth together with a fairer redistribution of wealth, accompanying specific measures aiming the most vulnerable, are complementary measures that will see all families and especially the most vulnerable through the crisis.

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